Credit desks were pricing early-stage risk in spreadsheets that nobody could audit.
Kestrel turns that work into a shared model — every assumption is versioned, every override leaves a trace, and a term sheet can be reconstructed months later.
We led the pre-seed because the founders had already run the desk they were rebuilding. They were not guessing at the workflow; they were escaping it.
Kestrel opens its underwriting model to third-party auditors by default.
A shared covenant library ships after eighteen months of customer requests.
The company hires its first head of risk from a tier-one credit desk.